Tabula Rasa HealthCare (TRHC) Downgraded by BidaskClub to Hold

BidaskClub cut shares of Tabula Rasa HealthCare (NASDAQ:TRHC) from a buy rating to a hold rating in a research note published on Friday.

A number of other brokerages have also weighed in on TRHC. William Blair started coverage on shares of Tabula Rasa HealthCare in a research report on Monday, December 11th. They issued an outperform rating on the stock. Zacks Investment Research lowered shares of Tabula Rasa HealthCare from a strong-buy rating to a hold rating in a research report on Friday, November 10th. Piper Jaffray Companies restated an overweight rating and issued a $35.00 target price on shares of Tabula Rasa HealthCare in a research report on Tuesday, November 7th. They noted that the move was a valuation call. First Analysis started coverage on shares of Tabula Rasa HealthCare in a research report on Wednesday, November 1st. They issued an overweight rating and a $41.00 target price on the stock. Finally, Wells Fargo & Company raised their target price on shares of Tabula Rasa HealthCare from $21.00 to $27.00 and gave the company a market perform rating in a research report on Thursday, October 19th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $28.25.

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Shares of Tabula Rasa HealthCare (NASDAQ:TRHC) traded up $0.03 during trading hours on Friday, reaching $28.16. 287,010 shares of the company were exchanged, compared to its average volume of 241,563. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 0.47. Tabula Rasa HealthCare has a fifty-two week low of $11.59 and a fifty-two week high of $36.80.

Tabula Rasa HealthCare (NASDAQ:TRHC) last announced its quarterly earnings data on Monday, November 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The business had revenue of $33.27 million for the quarter, compared to analysts’ expectations of $31.76 million. Tabula Rasa HealthCare had a negative net margin of 2.27% and a negative return on equity of 5.58%. The firm’s quarterly revenue was up 37.6% compared to the same quarter last year. During the same period last year, the firm posted $0.06 earnings per share. equities analysts predict that Tabula Rasa HealthCare will post 0.05 EPS for the current fiscal year.

In other news, major shareholder Growth Fund 1Q Lp Originate sold 684,180 shares of Tabula Rasa HealthCare stock in a transaction on Monday, December 11th. The shares were sold at an average price of $25.85, for a total transaction of $17,686,053.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Orsula V. Knowlton sold 8,000 shares of Tabula Rasa HealthCare stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $26.68, for a total transaction of $213,440.00. The disclosure for this sale can be found here. Insiders sold 1,099,180 shares of company stock worth $28,435,203 in the last 90 days. Company insiders own 45.80% of the company’s stock.

Large investors have recently modified their holdings of the company. TIAA CREF Investment Management LLC lifted its holdings in shares of Tabula Rasa HealthCare by 108.5% during the first quarter. TIAA CREF Investment Management LLC now owns 8,131 shares of the company’s stock worth $110,000 after purchasing an additional 4,232 shares during the period. Financial Consulate Inc. acquired a new position in shares of Tabula Rasa HealthCare during the third quarter worth $222,000. Rhumbline Advisers acquired a new position in shares of Tabula Rasa HealthCare during the third quarter worth $253,000. California Public Employees Retirement System acquired a new position in shares of Tabula Rasa HealthCare during the third quarter worth $254,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of Tabula Rasa HealthCare by 257.0% during the second quarter. New York State Common Retirement Fund now owns 10,000 shares of the company’s stock worth $151,000 after purchasing an additional 7,199 shares during the period. Institutional investors own 31.85% of the company’s stock.

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Tabula Rasa HealthCare Company Profile

Tabula Rasa HealthCare, Inc (Tabula Rasa), formerly CareKinesis, Inc, is a provider of patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize medication regimens to improve patient outcomes, reduce hospitalizations and manage risk. The Company delivers its solutions through a suite of technology-enabled products and services for medication risk management, which includes bundled prescription fulfillment and adherence packaging services for client populations with complex prescription needs.